News: AMP Firm threatens class actions over Australian finance inquiry revelations, page-8

It's so hard being an AMP share holder right now. I'm quite heavily invested in them, but with these further revelations of their greed at customer's expense, I now firmly believe that things are going to get worse over the next 12 months, not better.

AMP was able to pay a dividend this month, but IMO their 1H 18 results are only the beginning of the slide in their performance. The worst is yet to come. Full Year results reported in Feb next year (2019) are going to be worse, as the full impact of the Royal Commission hits the business.

The new CEO doesn't start until 1st December (if he starts at all? With these new revelations, if I were him, I'd be reconsidering my decision to take the helm). So he'll need at least 12 months to implement his new agenda and transform the business, and this transformation will take more time to kick in and start to turn around the business. So the earliest we could expect to see any improvement is Feb 2020 (IMHO), but more likely Aug 2020 (1H 2020 Results), or even Feb 2021.

I'm in for the course, so I'm going to hold. But I think the share price is going to drift below $3 over the coming months. I will consider picking up some more if $2.80 is reached, and average down my overall share price.

All of this is just my humble opinion. So do your own research and come to your own conclusions.

Good luck to all.